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Chr. Hansen Reports 14% Organic Growth in 2010–2011
Posted: November 15, 2011
With an organic growth of 14% in the financial year 2010–2011, Chr. Hansen reported revenue of €636 million for the year, helping the company meet its goals.
"During the year the global economy has been through turbulent times with significant uncertainty. With such global turmoil we are pleased that Chr. Hansen once again can report a strong performance. We delivered on our financial targets for the year with profitable growth across all business areas resulting in organic growth of 14%. Excluding the effect of carmine prices, organic growth reached 10%. The positive development is a clear evidence of the resilience and scalability of our business model," said CEO Lars Frederiksen.
"We continue on track to meet our long-term growth expectations and expect organic growth in 2011/12 to reach 7–10%, excluding the effect of carmine prices. We expect carmine prices to decline in the coming year affecting the organic growth negatively by approximately two percentage points to 5–8%. EBIT margin before special items is expected to be above 26%. Revenue growth continues to be driven by increased demand for healthy food products not least from the growing middle income population in emerging markets and conversion from in-house bulk starter to industrialized produced cultures and from synthetic to natural colors,” Frederiksen said.